John McAfee is reportedly launching a decentralized crypto exchange, which would focus on liberating the crypto space from the governance of centralized exchanges. He stated in a tweet that the McAfee DEX will have no fees for listing, and will be an open-source platform, which wouldn’t require the users to share any personal information.
McAfee has been a longstanding proponent of cryptocurrencies and blockchain technology. He has always been among the news for his controversial statements, which are most critical of traditional systems, and government agencies. Recently, he had lashed out at centralized crypto exchanges, accusing them of controlling the majority of the crypto industry. McAfee had said that these exchanges could manipulate data, and user privacy is at risk as users have to share their personal information to use the centralized exchanges.
Decentralized exchanges, on the other hand, are known for privacy and distributed systems, which give the users complete control over their data, and the risk of manipulation is at a minimum. McAfee DEX will take the privacy game a notch higher as it doesn’t require the users to share any personal information. Also, the much-awaited decentralized exchange will have a low transaction fee, at a mere 0.25%.
McAfee’s latest venture is also set to release on Monday, 7th October, and it is expected to be well equipped to compete with the best in the business. Prior to this, McAfee has been a part of a few other crypto-blockchain companies; however, it has never been a direct creator of the pioneer of anyone.
Given the fact that McAfee has been a long-time observer of the crypto space, and is a strong advocate of an open-source decentralized global economy, it would be interesting to see how the industry and authorities would react to the newest launch. Especially, since McAfee is being hunted for years now, by US tax authorities and a couple of other departments, the continuity of the McAfee DEX will be a factor to watch for.